England and Scotland see house price growth slow

House prices increased at their slowest annual pace in nearly six years in January as property values tumbled in London but increased relatively strongly in places including the Midlands, Wales and Northern Ireland, official figures show.

Wednesday, 20th March 2019, 5:10 pm
Updated Wednesday, 20th March 2019, 5:11 pm
Average UK house prices increased by 1.7% in the year to January 2019

England and Scotland saw a slowdown in annual house price growth, while in Wales and Northern Ireland property values are rising relatively strongly.

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In Wales, the abolition of the Severn crossing tolls is helping to drive prices up in the south-east of the country, according to the report released jointly by the Office for National Statistics (ONS), Land Registry and other bodies.

Average house prices in the UK increased by 1.7% in the year to January 2019, down from 2.2% in December and the lowest annual rate since June 2013 when it was 1.5%, the report said.

UK house price growth has been slowing for the past two-and-a-half years, driven mainly by a slowdown in the South and East of England.